Relocating to a New State ?
Here ’ s What You Need to Know
By Shirley Martin
Whether it be due to professional reasons or the fact that you need a fresh start , moving to a new state is an experience to look forward to . Realty411 explores the steps you need to take for making a smooth transition to your new state .
Decide Where You Want to Live
The glitz and glamor offered by big cities often act as a strong pull for newcomers , but it is not the best option for everyone . Even if you are used to city life , the lifestyle and cost of living will vary greatly from state to state . For instance , moving from Pennsylvania to California can prove to be a major change .
Conducting online research should be your first step to learning about the best regions of the state , housing options , and proximity to amenities . To help you choose the region that best suits your expectations , consider working with local real estate agents that can help you learn about the area and housing market and assist in relocation activities .
Determine What to do With Your Old Home
You may need to sell your former home in order to afford the move . But even if you aren ’ t under financial pressure to sell , there are still many factors to consider to determine whether you should sell or rent your property . You should investigate market conditions before making a decision .
If you do decide to rent it , there are many things you ’ ll need to do to be a successful landlord . Ensure that you follow all legal requirements for your state and city . Be conservative when estimating your expenses , and prioritize highquality tenants . With care and caution , you ’ ll be able to turn your former home into a productive profit center .
Prepare for New Costs of Living
Moving to a highcost state can prove to be a challenge , especially for the first few months postmove . For instance , if you ’ re planning to relocate to California , here are some approximate costs to keep in mind :
• Utilities $ 375 ( monthly )
• Groceries $ 302 ( monthly )
• Healthcare $ 7,638 ( yearly )
Additionally , as reported by Sofi , the median sale price in California was $ 700,000 as of 2021 . While this number will fluctuate depending on the region , sound financial planning will be important to ensure your finances remain in control postmove . For newcomers , renting can be a viable option . On average , one can expect to spend between $ 1,2500 $ 2,350 each month , depending on the size of the home .
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